NORTHROP GRUMMAN CORP /DE/ — Form 8-K
Filed October 20, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 52/100
What the filing says
Q3 2026 sales increased 7% to $11.1B vs. $10.4B YoY; net earnings $1.1B ($7.89 diluted EPS) vs. $1.1B ($7.67) prior year. Backlog grew to $109.6B from $95.7B at year-end 2025 (15% increase), driven by $16.4B in net awards including $4.6B restricted programs, $2.0B Sentinel, $1.4B Virginia Class submarines. Company raised 2026 full-year guidance: segment operating income midpoint +$65M to $4,990M; MTM-adjusted EPS midpoint +$0.70 to $29.55. Book-to-bill 1.5x; adjusted free cash flow +44% to $1.8B in Q3.
Why this rating
Strong backlog growth (15% YoY) and raised guidance signal durable demand, but organic sales growth modest (5-7%). $109.6B backlog is 1.5x annual revenue—healthy but within normal range for defense contractor. Guidance raise modest (~1.3% segment income, 2.4% EPS) relative to $71.5B market cap. Solid execution, not transformational.
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